Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings 10.09 8.38 9.55 7.16 9.79
Price to Sales 2.73 2.49 66.22 58.61 49.88
Book Value Per Common Share 48.95 45.04 39.82 41.27 36.82
Price to Book 0.94 0.93 1.01 1.01 0.76
Price to Operating Cash Flow 7.54 8.16 6.36 6.24 4.95
Price to Free Cash Flow 8.23 8.57 6.72 6.53 5.18
Enterprise Value to EBITDA 60424.57 49627.30 50076.18
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2022-12-31 2021-12-31 2020-12-31
Price to Earnings 33.95 35.22 32.46 37.88 37.46
Price to Sales 11.07 10.77 9.96 10.43 10.36
Book Value Per Common Share 54.05 52.36 50.82 48.95 48.75 39.82 41.27 36.82
Price to Book 1.01 0.99 0.88 0.94 0.91 1.01 1.01 0.76
Price to Operating Cash Flow 19.50 45.62 28.32 62.95 20.06
Price to Free Cash Flow 20.28 50.50 40.92 69.45 20.82
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY -8.65 19.62 -27.76 102.80
Revenue YoY -0.33 2650.57 -17.10 21.92
EBITDA YoY -23.02 45.98
Net Profit YoY -9.48 18.10 -29.92 96.33
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2022-12-31 2021-12-31 2020-12-31
Earning YoY 8.84 6.52 13.11 2.52
Revenue YoY 2.10 3.66 1.54 3.35
EBITDA YoY
Net Profit YoY 9.06 3.34 13.35 2.50

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 10.78 71.82 21.71
Quick Ratio
Current Ratio
Debt to Equity 7.69 8.04 8.78 7.35 7.05
Long-Term Debt to Equity
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 10.59 70.58 21.54
Quick Ratio
Current Ratio
Debt to Equity 7.26 7.54 7.65 7.69 7.75 8.78 7.35 7.05
Long-Term Debt to Equity

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA 1.06 1.21 1.06 1.65 0.96
ROE 9.20 10.95 10.33 13.82 7.69
Gross Margin -52.22 -71.20 -161.46
Operating Margin 1024.74 1117.98 877.67
EBITDA Margin 1115.71 1201.52 1003.47
Net Profit Margin 27.01 29.74 692.52 819.22 508.73
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2022-12-31 2021-12-31 2020-12-31
ROA 0.35 0.32 0.31 0.28 0.27
ROE 2.92 2.77 2.72 2.44 2.40
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin 32.65 30.57 30.66 27.47 27.70

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Dividend Yield 0.00 0.00
Dividend Payout Ratio 22.48 20.43
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2022-12-31 2021-12-31 2020-12-31
Dividend Yield 0.00 0.00 0.00 0.00 0.00
Dividend Payout Ratio 18.36 18.60 19.94 21.70 21.38

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 3,443,668.00 3,320,122.00 3,228,280.00 2,938,244.00 2,591,850.00
   Deposits 0 0 2,633,181.00 2,535,849.00 2,213,821.00
      Cash and Short-Term Investments 0 0 87,750.00 601,792.00 188,301.00
            Cash and Cash Equivalents 98,548.00 75,930.00 87,750.00 601,792.00 188,301.00
            Short-Term Investments 15,916.00 16,022.00 0 0 0
      Net Receivables 0 0 1,798.00 942.00 1,979,954.00
      Inventory 0 0 0 0 0
      Other Current Assets 0 0 0 0 0
      Property, Plant, Equipment Net 42,324.00 41,980.00 52,581.00 48,798.00 50,063.00
      Goodwill 81,517.00 81,517.00 81,517.00 58,488.00 58,488.00
      Intangible Assets 3,527.00 4,855.00 6,456.00 3,461.00 4,624.00
      Long-Term Investments 403,857.00 434,991.00 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 0 0 0 0 0
Liabilities 3,047,580.00 2,952,678.00 2,898,326.00 2,586,341.00 2,270,008.00
      Payables and Expenses 0 0 0 0 0
            Account Payables 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0
      Short-Term Debt 137,220.00 150,000.00 0 0 0
      Other Current Liabilities 0 0 0 0 0
      Long-Term Debt 98,324.00 102,493.00 0 0 0
      Other Non-Current Liabilities 0 0 0 0 0
Equity 396,088.00 367,444.00 329,954.00 351,903.00 321,842.00
   Shareholders Equity 396,088.00 367,444.00 329,954.00 351,903.00 321,842.00
      Capital Stock 81.00 81.00 83.00 85.00 87.00
      Share Premium 168,138.00 165,823.00 164,942.00 164,982.00 164,988.00
      Retained Earnings 259,190.00 234,619.00 206,296.00 188,515.00 154,282.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income -29,982.00 -31,382.00 -39,307.00 744.00 5,274.00
   Minority Interest 0 0 0 0 0
Investments 0 0 200,715.00 329,734.00 2,237,640.00
Debt 235,544.00 252,493.00 54,013.00 5,457.00 4,695.00
Net Debt 136,996.00 176,563.00 0 0 0
Common Shares Outstanding 8,091.52 8,158.28 8,286.08 8,526.91 8,740.10
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 134,887.00 135,328.00 4,920.00 5,935.00 4,868.00
Cost Of Revenue 0 0 7,489.00 10,161.00 12,728.00
Interest Income 184,767.00 163,663.00 129,072.00 107,587.00 104,589.00
Interest Expense 64,505.00 42,971.00 7,915.00 5,913.00 11,918.00
Net Interest 0 0 118,015.00 100,989.00 92,211.00
Non-Interest Income 0 0 13,885.00 16,271.00 14,305.00
Non-Interest Expense 85,855.00 80,739.00 -81,909.00 -66,982.00 -62,981.00
Provisions for Credit Losses 0 0 7,489.00 -10,161.00 12,728.00
Gross Profit 0 0 -2,569.00 -4,226.00 -7,860.00
   Selling, General and Administrative Expenses 53,330.00 51,079.00 24,899.00 20,638.00 18,233.00
EBT 45,183.00 50,146.00 42,502.00 60,439.00 30,807.00
Income Tax 8,756.00 9,906.00 8,430.00 11,818.00 6,042.00
Net Income Including Non-Controlling Interests 36,427.00 40,240.00 0 0 0
Net Income 36,427.00 40,240.00 34,072.00 48,621.00 24,765.00
EBIT 0 0 50,417.00 66,352.00 42,725.00
Deprecation and Amortization 3,498.00 3,571.00 4,476.00 4,958.00 6,124.00
EBITDA 0 0 54,893.00 71,310.00 48,849.00
EPS 0.00 0.01 0.00 0.01 0.00
Diluted EPS 0.00 0.00 0.00 0.01 0.00
Average Shares Outstanding Basic 7,955.74 8,028.59 8,139.00 8,379.00 8,674.00
Average Shares Outstanding Diluted 8,004.81 8,065.69 8,194.00 8,428.00 8,704.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow 48,731.00 41,356.00 51,199.00 55,715.00 49,030.00
   Operating Net Income 36,427.00 40,240.00 34,072.00 48,621.00 24,765.00
   Deprecation and Amortization 3,498.00 3,571.00 4,476.00 4,958.00 6,124.00
   Deferred Income Tax -44.00 -33.00 -882.00 2,544.00 -1,588.00
   Share Based Compensation 2,764.00 2,375.00 2,441.00 2,354.00 2,050.00
   Change in Working Capital 1,214.00 -10,177.00 9,820.00 -1,525.00 3,651.00
   Other Operating Activities 4,872.00 5,380.00 1,272.00 -1,237.00 14,028.00
Investing Cash Flow -107,106.00 -94,255.00 -495,352.00 54,930.00 -260,036.00
   Capital Expenditure 0 0 -2,706.00 -2,472.00 -2,147.00
   Net Purchase/Sale of PPE -3,809.00 -2,018.00 -2,624.00 -2,058.00 -2,142.00
   Net Purchase/Sale of Investments Net 33,272.00 63,316.00 -179,576.00 -81,030.00 9,463.00
   Net Purchase/Sale of Business 0 0 -16,123.00 0 0
   Net Loan & Lease Activity 0 0 -279,450.00 133,808.00 -271,830.00
   Other Investing Activities -136,569.00 -155,553.00 -14,873.00 6,682.00 6,620.00
Financing Cash Flow 81,092.00 41,329.00 -69,889.00 302,846.00 359,111.00
   Net Issuance/Repayment of Debt -17,169.00 16,496.00 204,042.00 -2,798.00 -11,826.00
   Net Issuance/Repurchase of Equity -4,774.00 -5,259.00 12,032.00 9,283.00 14,030.00
   Dividends Paid -8,189.00 -8,222.00 7,777.00 7,867.00 7,903.00
   Other Financing Activities 111,224.00 38,314.00 -293,740.00 288,494.00 349,004.00
Net Change in Cash 22,717.00 -11,570.00 -514,042.00 413,491.00 148,105.00
   Cash at Beginning of Period 75,831.00 87,401.00 601,443.00 187,952.00 39,847.00
   Cash at End of Period 98,548.00 75,831.00 87,401.00 601,443.00 187,952.00
Free Cash Flow 44,674.00 39,334.00 48,493.00 53,243.00 46,883.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2022-12-31 2021-12-31 2020-12-31
Assets 3,494,074.00 3,491,455.00 3,485,453.00 3,443,668.00 3,441,990.00 3,228,280.00 2,938,244.00 2,591,850.00
   Deposits 0 0 0 0 0 2,633,181.00 2,535,849.00 2,213,821.00
      Cash and Short-Term Investments 0 0 0 0 0 87,750.00 601,792.00 188,301.00
            Cash and Cash Equivalents 189,324.00 112,595.00 110,662.00 98,548.00 135,877.00 87,750.00 601,792.00 188,301.00
            Short-Term Investments 30,638.00 24,242.00 30,932.00 15,916.00 11,729.00 0 0 0
      Net Receivables 0 0 0 0 0 1,798.00 942.00 1,979,954.00
      Inventory 0 0 0 0 0 0 0 0
      Other Current Assets 0 0 0 0 0 0 0 0
      Property, Plant, Equipment Net 45,223.00 45,216.00 45,327.00 42,324.00 42,659.00 52,581.00 48,798.00 50,063.00
      Goodwill 0 0 0 81,517.00 0 81,517.00 58,488.00 58,488.00
      Intangible Assets 0 0 0 3,527.00 0 6,456.00 3,461.00 4,624.00
      Long-Term Investments 384,405.00 394,527.00 401,618.00 403,857.00 421,788.00 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0
      Other Non-Current Assets 0 0 0 0 0 0 0 0
Liabilities 3,071,030.00 3,082,637.00 3,082,622.00 3,047,580.00 3,048,537.00 2,898,326.00 2,586,341.00 2,270,008.00
      Payables and Expenses 0 0 0 0 0 0 0 0
            Account Payables 0 0 0 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0 0 0 0
      Short-Term Debt 0 75,000.00 150,000.00 137,220.00 0 0 0 0
      Other Current Liabilities 0 0 0 0 0 0 0 0
      Long-Term Debt 63,219.00 73,302.00 73,311.00 98,324.00 233,351.00 0 0 0
      Other Non-Current Liabilities 0 0 0 0 0 0 0 0
Equity 423,044.00 408,818.00 402,831.00 396,088.00 393,453.00 329,954.00 351,903.00 321,842.00
   Shareholders Equity 423,044.00 408,818.00 402,831.00 396,088.00 393,453.00 329,954.00 351,903.00 321,842.00
      Capital Stock 78.00 78.00 79.00 81.00 81.00 83.00 85.00 87.00
      Share Premium 168,016.00 166,576.00 167,231.00 168,138.00 166,743.00 164,942.00 164,982.00 164,988.00
      Retained Earnings 275,912.00 265,817.00 261,856.00 259,190.00 251,692.00 206,296.00 188,515.00 154,282.00
      Treasury Shares 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income -19,891.00 -22,493.00 -25,085.00 -29,982.00 -23,635.00 -39,307.00 744.00 5,274.00
   Minority Interest 0 0 0 0 0 0 0 0
Investments 0 0 0 0 0 200,715.00 329,734.00 2,237,640.00
Debt 63,219.00 148,302.00 223,311.00 235,544.00 233,351.00 54,013.00 5,457.00 4,695.00
Net Debt 0 35,707.00 112,649.00 136,996.00 97,474.00 0 0 0
Common Shares Outstanding 7,827.48 7,808.42 7,926.33 8,091.52 8,070.54 8,286.08 8,526.91 8,740.10
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 37,844.00 37,067.00 35,758.00 35,215.00 34,074.00
Interest Income 49,222.00 48,629.00 47,201.00 47,804.00 47,379.00
Interest Expense 15,116.00 15,278.00 15,452.00 16,218.00 16,997.00
Non-Interest Expense 22,263.00 23,108.00 21,286.00 21,798.00 21,930.00
   Selling, General and Administrative Expenses 14,046.00 13,783.00 13,081.00 13,981.00 13,440.00
EBT 15,542.00 14,171.00 13,785.00 11,987.00 11,676.00
Income Tax 3,185.00 2,841.00 2,821.00 2,314.00 2,239.00
Net Income Including Non-Controlling Interests 12,357.00 11,330.00 10,964.00 9,673.00 9,437.00
Net Income 12,357.00 11,330.00 10,964.00 9,673.00 9,437.00
Deprecation and Amortization 826.00 813.00 834.00 824.00 917.00
EPS 0.00 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 7,713.00 7,707.42 7,949.48 7,944.63 7,921.58
Average Shares Outstanding Diluted 7,783.00 7,781.02 8,026.81 7,993.85 7,966.96
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 21,489.00 8,749.00 12,576.00 5,832.00 17,606.00
   Operating Net Income 12,357.00 11,330.00 10,964.00 9,673.00 9,437.00
   Deprecation and Amortization 826.00 813.00 834.00 824.00 917.00
   Deferred Income Tax 59.00 314.00 -175.00 -116.00 12.00
   Share Based Compensation 898.00 799.00 746.00 767.00 731.00
   Change in Working Capital 7,589.00 -6,162.00 467.00 -6,334.00 5,877.00
   Other Operating Activities -240.00 1,655.00 -260.00 1,018.00 632.00
Investing Cash Flow 74,741.00 -4,044.00 -24,820.00 -47,051.00 -2,082.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -833.00 -703.00 -3,829.00 -451.00 -497.00
   Net Purchase/Sale of Investments Net 13,755.00 10,844.00 9,197.00 9,073.00 6,010.00
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 61,819.00 -14,185.00 -30,188.00 -55,673.00 -7,595.00
Financing Cash Flow -19,501.00 -2,772.00 24,358.00 3,890.00 6,891.00
   Net Issuance/Repayment of Debt -85,137.00 -75,063.00 -12,287.00 2,134.00 -45,096.00
   Net Issuance/Repurchase of Equity 5.00 -6,485.00 -7,833.00 -88.00 -1,017.00
   Dividends Paid -2,269.00 -2,107.00 -2,186.00 -2,099.00 -2,018.00
   Other Financing Activities 67,900.00 80,883.00 46,664.00 3,943.00 55,022.00
Net Change in Cash 76,729.00 1,933.00 12,114.00 -37,329.00 22,415.00
   Cash at Beginning of Period 112,595.00 110,662.00 98,548.00 135,877.00 113,462.00
   Cash at End of Period 189,324.00 112,595.00 110,662.00 98,548.00 135,877.00
Free Cash Flow 20,656.00 7,903.00 8,703.00 5,286.00 16,964.00